ISEQ rises nearly 4% in morning trading

The ISEQ has seen share values on the up nearly 4% this morning, with the banks accounting for the majority of the rebound in the wake of the Government's deposit guarantee plan.

The ISEQ index was up 139.29 points, or 3.92% by 11am, to stand at 3,689.92.

This continues the trend that began yesterday following significant falls on Monday.

The recovery follows the Government's move to guarantee the deposits of all Irish-owned banks in an effort to restore confidence in the sector.

AIB shares were up 3.41%, 20c, to €6.10 by 11am, while Anglo Irish Bank shares surged by 51c or 13.16% to €4.35.

Bank of Ireland have seen their share price rise by 7.59%, a rise of 30c to €4.25, while Irish Life and Permanent climbed 9.9% or 48c to €5.33.

The construction sector is also contributing to the recovery with CRH going up 43c (2.87%) to €15.43 and Kingspan rising by 25c or 3.91% to €6.65.

Other major risers are PAddy Power, up 76c to €13.02 and DCC, up 55c to €14.15.

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